The present invention relates generally to online transactions. More specifically, a counter offer process for an online credit card application is disclosed.
Considerable marketing effort is involved in getting an applicant to log on to a credit card website and apply for a credit card. In addition to advertising, credit cards that allow a user to apply for a card over the Internet in some cases pay significant referral fees to a party that refers an applicant to the site. Given the effort and cost required to draw an applicant to an on-line credit card application, it is very important that if, at all possible, the applicant be encouraged to complete the process.
Various reasons exist why an applicant might cancel out of a credit card application that has already been started. The applicant may become confused during the process and may cancel when he is unable to discern how to follow certain instructions. Also, an applicant may reject an offer for credit because of some attribute of the credit offer that the applicant finds unacceptable. Whatever the reason that the applicant does not complete the process and receive the credit card, the cost to the marketer of the credit card is significant. It would be very helpful if an on line credit card application system could be improved to reduce the number of applicants that stop the process short of obtaining a credit card.
A system for providing an applicant with a counter offer of credit when the applicant rejects a first offer is disclosed. In one embodiment, an applicant who requests a counter offer is directed to a chat agent. The applicant ID is transferred to the chat agent so the chat agent can access information about the state of the applicant""s application. Using the chat interface, the applicant explains to the chat agent why the original offer was not acceptable and the chat agent interacts with an application database to determine a counter offer. The counter offer is transferred to the applicant through an application server.
It should be appreciated that the present invention can be implemented in numerous ways, including as a process, an apparatus, a system, a device, a method, or a computer readable medium such as a computer readable storage medium or a computer network wherein program instructions are sent over optical or electronic communication links. Several inventive embodiments of the present invention are described below.
In one embodiment, a method of offering credit to an applicant includes determining a plurality of offers using information about the applicant. A displayed offer is displayed and a withheld offer is withheld. An indication that the displayed offer is unacceptable is received and the withheld offer is displayed.
In one embodiment, a method of offering credit to an applicant includes determining a plurality of offers using information about the applicant. A displayed offer is displayed and a plurality of withheld offers are withheld. An indication that the displayed offer is unacceptable is received including an indication that an attribute is unacceptable. A selected withheld offer is selected using the attribute that is unacceptable and the selected withheld offer is displayed.
In one embodiment, a method of offering credit to an applicant includes determining a plurality of offers using information about the applicant. A displayed offer is displayed and a plurality of withheld offers are withheld. An indication that the displayed offer is unacceptable is received including an indication that a plurality of attributes are unacceptable. A primary unacceptable attribute is determined and a selected withheld offer is selected using the primary unacceptable attribute. The selected withheld offer is displayed.
In one embodiment, a method of offering credit to an applicant includes determining an offer using information about the applicant and displaying the offer to the applicant. An indication that the displayed offer is unacceptable is received. An attribute of the offer that is unacceptable is determined. In the event that the unacceptable attribute is the amount of the credit limit; the credit limit is recalculated for the applicant.
In one embodiment, a method of offering credit to an applicant includes determining a first offer using information about the applicant and displaying the first offer to the applicant. A chat interface is activated between the applicant and a customer service agent. A second offer for the applicant is determined based on chat between the applicant and the customer service agent and the second offer is displayed to the applicant.
In one embodiment, an application server for providing a counter offer of credit includes an applicant interface configured to receive applicant data from an applicant browser and to communicate an offer of credit to the applicant and the counter offer of credit to the applicant. A processor is configured to determine the offer of credit based on the applicant data and the counter offer of credit based on an unacceptable attribute of the first offer of credit and an agent interface is configured to receive the unacceptable attribute from an agent.
In one embodiment, a chat server for providing a counter offer of credit includes an applicant interface configured to receive chat from an applicant. An agent interface is configured to receive chat from an agent and an unacceptable attribute determined from the chat from the applicant. An application server interface is configured to send the unacceptable attribute and to receive a counter offer.
In one embodiment, an applicant client for obtaining a counter offer of credit includes an application server interface configured to send applicant information and to receive and offer of credit and a counter offer of credit. A chat server interface is configured to be activated upon an indication that the offer of credit is not acceptable.
These and other features and advantages of the present invention will be presented in more detail in the following detailed description and the accompanying figures which illustrate by way of example the principles of the invention.